Applied Nutrition has initiated its IPO at £350m, invigorating the London Stock Exchange amidst a challenging year.
- The Liverpool-based company, supported by JD Sports, successfully raised £157.5m, with shares priced at 140p each.
- The IPO offers relief to a struggling market, marking Applied Nutrition as the 10th firm to list this year.
- Investments include 112.5m shares from existing investors, with Asda co-owner Mohsin Issa as a cornerstone investor.
- This strategic move positions Applied Nutrition for future growth, with unconditional trading set to begin soon.
Applied Nutrition, a sports nutrition brand backed by JD Sports, has launched its initial public offering (IPO) on the London Stock Exchange, attracting substantial attention with a valuation of £350 million. Although the share price of 140p is on the lower end of the forecast range, it provides a much-needed boost to a beleaguered London Stock Exchange. The company successfully raised £157.5 million through this offering, showcasing confidence in its expansion and market strategies.
This IPO represents a significant development for the Liverpool-based company and a sign of optimism in an otherwise troubled stock market year. Applied Nutrition’s entry is notable; it becomes only the 10th company to float in the capital, highlighting the rarity of such listings this year. The market has been struggling, with only 23 IPOs in 2023, marking it as one of the worst years for listings in recent decades.
The offering included 112.5 million shares from existing investors, involving key executive figures from Applied Nutrition and JD Sports, further underscoring the strategic alliances supporting this move. One of the highlighted investors, Mohsin Issa, known for his role as co-owner of Asda, agreed to serve as a cornerstone for the IPO, which adds significant credibility and financial backing.
The CEO of Applied Nutrition, Thomas Ryder, expressed pride and ambition for future growth, emphasizing the strategic timing and placement of this IPO. He stated, “As a homegrown UK business based in Knowsley, Liverpool, we could not be prouder to be listing on the London Stock Exchange.” This move is seen as a pivotal moment for further development as the company explores new markets and consumer bases.
In recent months, the company strengthened its leadership team by appointing Tony Buffin, former leader of Holland & Barrett, as a non-executive board member, along with AJ Bell founder Andy Bell as its non-executive chair. These appointments reinforce the company’s strategy to bolster its market position and drive growth, leveraging their expertise in navigating complex market environments.
Applied Nutrition’s IPO not only strengthens its market presence but also signals a positive turn for the London Stock Exchange amid recent challenges.
